Mexican billionaire Ricardo Salinas Pliego, chairman of Grupo Salinas, recently paid a staggering US$25 million bail to avoid incarceration in the United States amid escalating legal troubles tied to his sale of the telecom company Iusacell. The payment follows a New York Supreme Court judge’s issuance of a civil arrest warrant, citing Salinas’s repeated defiance of court orders in a lawsuit filed by AT&T Mobility Holdings B.V.
The dispute stems from AT&T’s 2015 acquisition of Iusacell from Salinas for US$2.5 billion. AT&T later discovered that the company carried a multimillion-dollar tax credit with Mexico’s tax authority, the SAT (Servicio de Administración Tributaria), which Salinas allegedly failed to disclose during the sale. AT&T claims this omission amounted to fraud, triggering a protracted legal battle in U.S. courts.
The judge found Salinas in contempt for failing to comply with orders to produce financial documents and transfer corporate shares. In response, the court imposed daily fines of US$15,000, which doubled starting in November 2024 until compliance was met. The arrest warrant was part of a broader enforcement strategy, allowing U.S. authorities to detain Salinas until he fulfilled court-mandated obligations.
The court also granted an “alter ego” motion, holding Salinas personally liable alongside Grupo Elektra and Banco Azteca, effectively piercing the corporate veil. This ruling enables AT&T to pursue Salinas’s personal assets to satisfy the judgment.
Salinas’s legal woes extend beyond the U.S., with Mexican authorities pursuing over 60 billion pesos in unpaid taxes and regulatory fines against his companies. The case underscores the growing international scrutiny of corporate transparency and accountability, especially in cross-border transactions involving public assets and tax liabilities.
Source: Proceso
